Self-licensed planners targeted
Publicly-listed XPLAN customisation provider, Enzumo has entered into a strategic partnership with IOOF Alliances to provide the company's XPLAN customised solutions and e-learning Management Systems to IOOF's network of 150 independent self-licensed financial practices.
The company announced to the Australian Securities Exchange (ASX) today that the partnership with IOOF would play a key role in Enzumo's expansion into the independently licensed financial planning market.
"It will not only expand Enzumo's XPLAN customisation division, but will also provide a number of strategic cross-selling opportunities," the announcement said.
It said that the self-licensed financial planning market was continuing to grow strongly as financial planes looked to position themselves independently in the new Future of Financial Advice (FOFA) environment.
"As a result, Enzumo has identified the opportunity to strategically partner with licensee support firms such as IOOF Alliances to provide its tailored service offering to a broader pool of potential clients.
Recommended for you
Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.
With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?
Despite its popularity, only 1 per cent of financial advisers say they have often discussed cryptocurrency with clients, CoreData said, fuelled by concerns of heavy legal expenses if the product goes wrong.
AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.